Found December 12, 2011 on Pacers Pulse:
C6
For those who don't fully understand the 'amnesty clause' in the new NBA collective bargaining agreement (CBA), it essentially allows each team in the NBA to shred ONE existing player from their roster for salary cap purposes.  This player must already be on an NBA contract from the date the CBA is brought into effect and the clause can be utilized at any time during the CBA is in effect, but only once.Once the player is waived from a team's roster, any other team in the NBA under the salary cap can make a blind bid for the services of that player (ie, a bid where you don't know how much other teams are bidding).  The team with the highest bid will get that player and pay them how much they bid, with the player's old team (ie, the team that cut him) paying the remainder of the contract.  If a player is not claimed via the bidding process he will become a free agent and the team that waived him will have to pay for the entirety of what's left on the contra...
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